• 30 mins Oil Production Cuts Taking A Toll On Russia’s Economy
  • 3 hours Aramco In Talks With Chinese Petrochemical Producers
  • 4 hours Federal Judge Grants Go-Ahead On Keystone XL Lawsuit
  • 5 hours Maduro Names Chavez’ Cousin As Citgo Boss
  • 12 hours Bidding Action Heats Up In UK’s Continental Shelf
  • 17 hours Keystone Pipeline Restart Still Unknown
  • 21 hours UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 23 hours Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 1 day Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 1 day German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 1 day Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 1 day Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 2 days Oil Prices Rise After API Reports Major Crude Draw
  • 2 days Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 2 days Gazprom Speaks Out Against OPEC Production Cut Extension
  • 2 days Statoil Looks To Lighter Oil To Boost Profitability
  • 2 days Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 2 days Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 2 days Whitefish Energy Suspends Work In Puerto Rico
  • 2 days U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 3 days Thanksgiving Gas Prices At 3-Year High
  • 3 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 3 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 3 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 3 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 3 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 3 days ConocoPhillips Sets Price Ceiling For New Projects
  • 6 days Shell Oil Trading Head Steps Down After 29 Years
  • 6 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 6 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 6 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 6 days Venezuela Officially In Default
  • 6 days Iran Prepares To Export LNG To Boost Trade Relations
  • 6 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 6 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 7 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 7 days Rosneft Announces Completion Of World’s Longest Well
  • 7 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 7 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 7 days Ecuador Seeks To Clear Schlumberger Debt By End-November
Alt Text

China Is The World’s Biggest Energy Market Mover

China is the foremost consumer…

Alt Text

Are Electric Cars As Clean As They Seem?

Electric cars are set to…

Alt Text

Can The Gas Glut Kill The Permian Boom?

The natural gas glut is…

Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Statoil Aims To Develop Argentinian Shale

oil drillers

Agreement with YPF marks Statoil’s entry into Argentina

Statoil (ticker: STO) and YPF announced today an agreement to explore hydrocarbons in the Vaca Muerta shale. This represents Statoil’s entry into Argentina.

Under the terms of the agreement, Statoil will enter the Bajo del Toro license block with a 50 percent interest. YPF will retain a 50 percent share and will remain the operator. Statoil will recognize YPF’s past costs incurred in the block and will fund 100 percent of the cost of certain activities in the future.

Bajo del Toro represents almost 39,000 acres in the Neuquén Basin in west-central Argentina. The Vaca Muerta shale in the Neuquén Basin is one of the most promising shale plays in the world. Tremendous amount of oil and gas in place and generally favorable governmental attitudes toward development have made the play very attractive. In addition, the Vaca Muerta benefits from generally cheaper acreage than most U.S. unconventionals, so it is easier for a company to acquire a sizeable position. It is one of the few international shale plays that has seen successful development, and many major players are investing money.

In June 2016, for example, ExxonMobil’s then-CEO Rex Tillerson stated that the company may spend up to $10 billion in developing the Vaca Muerta in the next few decades. According to the EIA, the formation holds over 16 billion barrels of shale oil and 308 Tcf of shale gas.



Source: Statoil

Yacimientos Petrolíferos Fiscales, YPF, is Argentina’s national oil company and has major positions in the Vaca Muerta. YPF Chairman Miguel Angel Gutierrez commented on the agreement, saying “Bringing in a new international player like Statoil into the country shows confidence in Vaca Muerta as a promising shale play and in YPF as a leading operator. We are pleased to expand the cooperation between both companies.”

By Oil and Gas 360

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News